S&P 500 Weekly Review December 28 – January 1

The S&P 500 weekly is showing another close in the upper Keltner channel.

The weekly outlook remains neutral to bullish.

On a six month opening range basis, the S&P 500 closed inside the opening range from July. A neutral to bearish close for the six month period.

On a yearly basis, the S&P 500 did not close above the opening price of the year, and did not close above 2014’s high. On a yearly basis, the close looked neutral to bullish.

Overall, the whole  year was a consolidation in a range with neither highs being bought nor lows being sold. 2134 and 1867 will be levels that should be observed carefully in 2016 for signs of a rally or sell off.